Section 145(1) of the Companies Act requires every company to have at least one ordinarily resident director in Singapore. This means the director shall be either a Singapore citizen or Singapore permanent resident who resides in Singapore. The director can even be a foreigner who holds a valid residency pass in Singapore such as an employment pass.
Where the company only has one member, that sole director may also be the sole member of the company. This same director same shareholder requirement has made it easier for aspiring entrepreneurs to set up their own companies without having to deal with archaic rules in the past.
This helps create a conducive business environment that makes it possible for a culture of entrepreneurship to thrive in Singapore and beyond.
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